LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Synacor, Inc. (“Synacor” or the “Company) (NASDAQ: SYNC) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Synacor investigation page on our website at www.glancylaw.com/case/synacor-inc.
On August 9, 2017, Synacor issued a press release announcing its Q2 2017 results. Therein, Synacor disclosed that a significant portion of the revenue it expected in Q3 and Q4 of 2017 was delayed to 2018. The delay was purportedly due to a “strategic decision” by the joint AT&T-Synacor team to “prioritize portal engagement” over monetization, which would cause a “longer ramp to full monetization.” On this news, Synacor’s share price fell $1.15, or 32.4%, to close at $2.40 on August 10, 2017, thereby injuring investors.
Then, on March 15, 2018, Synacor held a conference call to discuss its Q4 2017 results. On the call, Himesh Bhise, the Company’s CEO, further elaborated on problems with the Company’s AT&T contract. On this news, Synacor’s share price fell $0.30, or 14.63%, to close at $1.75 on March 16, 2018, thereby further injuring investors.
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If you purchased Synacor securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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